In recent developments, World Liberty Financial, the cryptocurrency platform spearheaded by former President Donald Trump and his associates, has opened its doors to a limited group of investors. The platform has made ambitious claims about its potential to reshape the financial system by liberating “the average American” from the influence of major banks and financial elites. However, despite the bold promises, specific details on how these goals will be achieved remain scarce.
The platform is now accepting signups for Know Your Customer (KYC) verification, but only from accredited investors in the US and non-US individuals. According to guidelines from the US Securities and Exchange Commission (SEC), to qualify as an accredited investor, an individual must have a net worth of at least $1 million (excluding their primary residence) or an annual income of $200,000 over the last two years. Certain professionals and business entities may also qualify under different criteria.
While World Liberty Financial aims to drive mass adoption of decentralized finance (DeFi) and stablecoins, the public is still left wondering about the specific services and structure of the platform. Time will tell if it can attract the necessary investors to achieve its ambitious objectives, but for now, the future of the platform remains uncertain.
In other news, a recent survey released by Coinbase, titled “Ten Things You Should Know About The Crypto Voter,” offers insight into the growing diversity of cryptocurrency owners. The report debunks the myth that crypto ownership is dominated by “crypto bros” and reveals a broader demographic. According to the survey, 18% of crypto owners are mothers with children at home, and 68% belong to Gen Z or the Millennial generation. Additionally, 59% of crypto owners think about cryptocurrency as much, if not more, than their next vacation. Notably, nearly 9 in 10 crypto owners express a desire for greater control over their financial lives.
As the world of cryptocurrency continues to evolve, both platforms like World Liberty Financial and new insights from surveys like Coinbase’s remind us that the crypto landscape is rapidly changing. Investors and participants are eagerly watching to see how these developments unfold.